Beware the march of the robots! The majority of routine retail tasks are set to be replaced by artificial intelligence (AI) by 2035, according to new data.

Nearly 60% of retail tasks across core functions could be augmented or automated by AI, according to a new report from law firm Eversheds Sutherland and research agency Retail Economics, seen by CityAM.

The report noted that UK retailers are set to spend a third of their budgets on AI-aligned tech next year to help allay concerns over rising costs, with 69% expecting to increase investment within two years.

While “the speed of this shift sets the UK among the most advanced global markets”, the report also warns that progress is “increasingly vulnerable to longstanding operational barriers”.

Andrew Todd, partner at Eversheds Sutherla

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